Six-Unit Apartment
For Sale
$1,099,000
Pending
2701 Grant Street, Berkeley, CA 94703
COMM RI MULTI-UNITS 5+, Berkeley, CA
Property Size2,534 SF
Lot Size0.05 Acres
Days on Market292
Property Features for 2701 Grant Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Appliances
Gas Water Heater
Subdivision
SOUTH BERKELEY
Lot features
Corner Lot
Standard status
Pending
APN
5417272
Size
2,534 SF
Lot size
0.05 Acres
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Natural Gas
Water source
Public
Building Details
Year built
1905
Flooring type
Linoleum, Carpet
Building materials
Wood Siding
Roof type
Shingle
Listing Agency:
BHG RE Reliance Partners · Better Homes and Gardens Real Estate
(510) 868-1400
Listed By:
June McDaniels · License #01307858
(510) 866-9668
Added: Nov 17, 2025
Changed: Aug 19
Last Checked: Sep 5 at 5:06PM
MLS# 41117661
Copyright © 2026 bridgeMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,534-square-foot apartment property contains six residences: five one-bedroom units and one studio. The 1905 building features wood siding, shingle roofing, linoleum and carpet flooring, natural-gas heating, and a gas water heater. Public water and sewer serve the property, with natural gas available.
Situated on a 0.0459-acre lot at 2701 Grant Street in Berkeley, the property is near shopping and Berkeley eateries. The property may be subject to rent control.
Situated on a 0.0459-acre lot at 2701 Grant Street in Berkeley, the property is near shopping and Berkeley eateries. The property may be subject to rent control.
Key Highlights
- Six‑unit configuration with five one‑bedroom residences and one studio
- 2,534 square feet on a 0.0459‑acre lot
- Constructed in 1905 with wood siding and shingle roofing
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$50,366
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.58%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,007,320
$1.0M
Cap Rate 7%
$719,514
$719.5K
Cap Rate 9%
$559,622
$559.6K
Market Conditions
NOI Build-Up for 2,534 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$96.4K $38.04/SF
− Vacancy
−$4.8K −$1.90/SF
EGI
$91.6K $36.14/SF
− OpEx
−$41.2K −$16.26/SF
NOI
$50.4K $19.88/SF
Area
Berkeley, CA
Vacancy
5.00%
Lease Rate
$38.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,007,320
Cap Rate 7%
$719,514
Cap Rate 9%
$559,622
Alternative Uses
Best Use
Apartment 5plus
$719.5K
$629.6K – $839.4K
NOI $50,366 @ 7.0% cap · market cap 4.58%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$980.0K
$857.5K – $1.14M
NOI $68,600 @ 7.0% cap · market cap 6.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
2,145
Businesses Nearby
Explore this area
Business Placement
Demographics for 94703, CA
20,805
Population
9,654
Households
2.2
Avg Household Size
37
Median Age
71%
College-Educated
95%
High-School Grad
1.3 sq mi
ZIP Area
16,004
Density / Sq Mi
$108,922
Median Household Income
$66,261
Median Earnings
$2,257
Median Rent
$1,273,000
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property with a mix of one-bedroom and studio residences in Berkeley.
Where is this apartment building located?
The property is located at 2701 Grant Street Berkeley, CA.
What is the asking price?
The asking price for this property is $1,099,000.
What are key features of this property?
This property features: Six‑unit configuration with five one‑bedroom residences and one studio; 2,534 square feet on a 0.0459‑acre lot; Constructed in 1905 with wood siding and shingle roofing
